Property Seize Order in Paris is Another Failure of Narendra Modi Govt

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Many blogs have been written and spoken about Indian diplomatic relations being improved under the leadership of PM Narendra Modi. Yet, these blogs or editorials remained a hypothetical story every time the nation faced problem.

The country has witnessed that PM Modi was sitting next to his Chinese counterpart on a swing, yet PLA killed our soldiers and the nation failed to respond to the neighboring country. Not just PM failed to acknowledge the intrusion on Indian land, despite eleven rounds of commander level talks, we are still struggling to consolidate our position.

There were enough indicators of build-up and brewing storm,  yet the government failed to synthesize the complete picture and infer PLA’s intensions.

Not just China, or the disputed border; even the smallest and the most friendly neighbor, India ever had; Nepal also showed Indian territories to be a part of its mainland.

The failure on Covid front has led to the biggest criticism of the government and people have seen the pictures of hundreds of bodies being burnt in UP and the floating dead bodies in river Ganga – all pointing towards the failure of the government to handle the pandemic.

Surprisingly, instead of admitting its own failure, the government, in a PR stunt led vaccination campaign, even without the proper procure of vaccines. The vaccinations have been described as a “Masterstroke” by PM Modi and the council of ministers followed by few media persons who are proud to be followed by PMO and Narendra Modi on twitter, yet they failed to explain the reason of the slow pace of vaccination in the country and why orders were not placed for vaccines in advance, when the countries like US already did so. The opposition lead by Rahul Gandhi and Priyanka Gandhi have been continuously asking questions for vaccine strategy, but, instead of answering the genuine questions, group of ministers were busy trolling the Congress leaders.

Rafael scam being questioned by Rahul Gandhi and red flags being raised by French government is no more a news to the Noida based media, but the caste of the ministers in the new cabinet is!

Now, news have surfaced that the French Court has allowed Cairn Entergy to freeze Indian state-owned properties in Paris towards the settlement of the international arbitration order, according to a report published in the Financial Times. This has come after India had filed an appeal against the tribunal’s decision that asked the Indian government to pay Cairn $1.2 billion.

In a letter to the Indian government earlier this year, British energy major had indicated it could seize overseas assets such as bank accounts, payments to state-owned entities, aeroplanes and ships if New Delhi fails to comply with the arbitration award and return the value of the shares sold, dividend seized and tax refund withheld by the income tax department to recover part of the tax demand it had raised using retrospective legislation. With Indian government not honouring the award, Cairn Energy has moved in multiple jurisdictions overseas to recover the amount due by seizing Indian government assets.

In May, Cairn Energy Plc sued India’s national carrier Air India in the US District Court for the Southern District of New York. The UK-based group has identified $70 billion of Indian assets overseas for potential seizure to collect the amount, which now totals to $1.72 billion after including interest and penalty, according to PTI.

The French court order affects some 20 centrally located properties, belonging to the Indian Government and valued at more than $20 million Euros, as part of a guarantee of the debt owed to Cairn Energy.

But the question still remains, will the government give a convincing answer to the people of the largest democracy, or will it try to cover it up, using another PR stunt

Disclaimer :- This post is independently published by the author. Infeed neither backs nor assumes liability for the opinions put forth by the author.

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